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New Promise  Lutheran Church To glorify God through building up the body of Christ

New Promise Lutheran Church is to be a vital, Christ-centered witness to all God's people—reaching out through the ministries of worship and sacrament, services and education "for building up the body of Christ." (Ephesians 4:11-13)

Privacy Policy

New Promise Endowment

When was the New Promise Mission Endowment Fund created?

New Promise established the Mission Endowment Fund in 2009 and the Endowment reached the principle requirement for distributing funds in 2016 thanks to the generosity of individuals who made New Promise or the endowment part of their planned giving or estate planning.  


Who are some of the past recipients of the Fund?


What are some of the ways that I can be a part of this legacy of generosity?

There are many ways to make contributions to the Endowment Fund - several examples are listed in the chart to the right. We encourage people to talk with their family and financial advisors to determine what works best for them. For more information about these and other methods for planned giving through the ELCA Foundation go to their website at

  

https://elca.giftlegacy.com/

Contribution Methods

Qualified Charitable Distributions

This is for Investors older than age 70 1/2 who are taking required minimum distributions from their traditional IRAs and 401(k)s.  You can steer a portion of your distribution—up to $100,000—directly to the qualified charities thereby satisfying the required minimum distribution requirements.  The virtue of having your IRA administrator cut a check to the charity rather than taking the RMD and depositing it in your account and writing the check yourself is that it doesn't inflate your adjusted gross income.  

Donating Appreciated Securities

This strategy can yield three key benefits. First, scaling back large positions by donating them to charity can help reduce a portfolio's risk level.  Donating appreciated securities carries valuable tax savings—namely , the donor won't owe capital gains taxes on the appreciation in the shares, and he or she can deduct the full market value of the shares at the time of the donation, provided the investor has owned them for up to one year and provided the deduction is less than 30% of adjusted gross income.  If the amount of donation exceeds what's deductible in a given year, any excess can be carried forward and deducted for up to five years in the future.

Life Insurance Policy

Life insurance can be used to financially support a ministry that has been dear to you and can be an important component of your life-long stewardship plan. In many cases, giving life insurance is a way in which you can make a significant gift to greatly impact ministry by making smaller payments to support a policy over time. You can commit to making a gift of life insurance at any age. Gifts of life insurance have the benefit of passing to the church without delay and without being subject to probate or administrative fees.  

Will or Trust

A Trust is an arrangement under which one person, a trustee, manages property for a beneficiary.  There are many kinds of trusts, some created during the settler’s lifetime and some at death. Trusts are used for, among other things, avoiding probate court proceedings, saving on estate tax, providing quality management of assets and keeping money out of the hands of improvident beneficiaries.  You can also designate assets through a will or trust.  To set up a will or trust it is advisable to consult a lawyer in you state.